Thursday, August 8, 2019

Shark Tank's Kevin O'Leary as a Healthcare Socialist

Kevin O'Leary 
The below video is a very unusual take from Kevin O'Leary of the very popular unreality show "Shark Tank."

Thorough out the clip, he cheers on "capitalism." I have quite a few quibbles with many of the things he says and doesn't say about capitalism in the clip.. For example, he doesn't link the current boom to Federal Reserve money and interest rate manipulations. But the issue I want to discuss in this post is his comment that starts at the 9:25 mark where he discusses a "social safety net" and more specifically government-controlled healthcare.

Rather than attacking government healthcare as non-capitalistic, he takes on the role of a statist healthcare technician discussing such things as more digitized healthcare as a solution to current socialist-leaning healthcare, when the real problem is that healthcare in the United States is far removed from free market healthcare.

He ignores the fact that government involvement in healthcare creates a point of government central power that can be corrupted, distorts incentives, distorts price signals and suffocates creativity.

When Obamacare first came out, I stated that life expectancy in the US would decline for these very reasons (See my 2012 piece Why Life Expectancy Will Decline Under ObamaCare) and that is what is occurring.

This should not come as a surprise, it is the result of the free market being replaced by socialist healthcare. It will only get worse when pretty much everyone, including Kevin O'Leary, holds the view that there is a role for governement in the healthcare sector.



  1. I believe in "medicaid" for all. It is the one and only socialistic thing I believe in. Care for the sick and needy and destitute should be a social thing imho. Absolutely free healthcare for all paid for by property taxes (real estate). If you're living high on the hog as a rich ass on the hill in your multi-million dollar mansion, you can have your property taxes pay for the healthcare of the poor and needy and destitute. If its based on property taxes and it is all the same rate of tax for all real estate property owners. Everyone having a little skin in the game to help each other is a good thing. Taxes would only be assessed based on actual costs so it would be adjusted year to year, and would go down if society becomes healthier.
    With great wealth comes great responsibility.

    1. The one and only socialistic thing you believe in? That’s not true. For “healthcare for all” to work a whole lot of things have to be socialized. You don’t believe in private property, that’s socialist. You believe in central planning, that’s socialist. You believe in the state choosing winners and losers, you believe the state has the right to steal a persons means of production and his property. You believe in class warfare, seriously we could go on and on and on, you are a socialist.
      With great wealth comes great responsibility? Did you get that from Stalin? Who decides that responsibility? Who decides what great wealth is? Who are you to say who has to do what with their property? It sounds real nice, you want to take care of the poor. I hope that you are giving to the poor, and in fact I know right now that you are not giving enough. You need to give more. But you would rather have the state steal for you so you won’t have to do anything.

    2. A whole lot of things "have" to be socialized?

      Like what? Give me 3 things that would "have" to be socialized?

      Under the current system, a whole lot of things already are socialized.
      What I am talking about taking is simplifying and making it the same for everyone accross the board would rather simplify the whole heathcare mess a great deal. The problem is there is always room for corruption, which seems to inevitably happen so I will give you that.

      The way I see it, the only thing that would need to be regulated is preventing conflicts of interest.